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With transport taking a massive hit in the spending review, and with job cuts and fare increases looming large, it is outrageous that the top brass across TfL are raking in such huge bonuses.

Crossrail is paying out huge amounts in largesse for a project that hasn't even been completed yet while trade unionists have been blacklisted off the site for fighting for health and safety and decent working conditions.

RMT will take the 'loadsamoney' culture at the top into full account as we make our own pay claims.

Responding to the publication of Transport for London’sAnnual Accounts, London Assembly Labour Group Transport Spokesperson, ValShawcross AM, said:

“TfL’s bonus pot of £2.5million will come as a surprise toLondoners who have been forced to pay through the nose just to get to work.We’ve had five years of inflation busting fare rises under Boris Johnson andnow we find out that TfL has paid out huge bonuses. They may have been agreedby a committee but it is still shocking.

Transport for Londonbosses are involved in a "Fat Cats" salary row on a day big cuts wereexpected to be announced. TfL's annual report shows Transport Commissioner SirPeter Hendy was paid £650,352.

Sir Peter Hendy receiving his knighthood earlier this year Credit: PA

The figure includestwo annual bonuses deferred until after the Olympics. Sir Peter is one of sixTfL executives with pay cheques in excess of £300,000

A further 300 TfLstaff were paid more than £100,000. The bonuses were agreed by a RemunerationCommittee chaired by Paralympian Baroness Tani Grey Thompson. She said:"The excellent management team and staff of TfL have reallydelivered."

But London AssemblyGreen Party member Jenny Jones said: "We can’t afford not to reduce thepay gap in this divided city".

TfL is bracing itself for painful cuts to itsbudget when the Chancellor announces his Spending Review at lunchtime. Theorganisstion claims it needs to spend £1.8bn a year on a programme of vitaltransport improvements.

Projects thought to be at risk include the upgrade of the Bakerloo and Piccadilly Lines and the Mayor's £900. "cycling vision".